Breaking: New York Judge Rules Securities Laws Can Apply to Cryptocurrencies

A New York federal judge has ruled that a case of alleged crypto fraud falls under the Securities Exchange Act.

In what appears to be the first U.S. court case to address the matter, a New York federal judge has ruled that U.S. securities laws are applicable for prosecuting crypto fraud allegations, Reuters reports September 11.

U.S. District Judge Raymond Dearie ruled that the case against Brooklyn resident Maksim Zaslavskiy, which alleges that he defrauded investors in two cryptocurrencies reportedly backed by real estate and diamonds, can continue.

Dearie ruled Tuesday, Sept. 11, that federal securities laws should be interpreted “flexibly,” dismissing a motion from Zaslavskiy’s lawyers to drop the charges on the grounds that the cryptocurrencies didn’t fall under the Securities Exchange Act.

This post was originally published on this site Remittance network Ripple plans to launch its xRapid payment network “within the next month,” head of regulatory relations for Asia-Pacific and the Middle East Sagar Sarbhai has [...]

This post was originally published on this site Israeli-based social trading platform eToro is expanding to the U.S. If all goes according to plan, U.S. citizens will be able to trade cryptocurrencies on the company’s [...]

This post was originally published on this site Key Points Bitcoin cash price extended losses and broke the $440 swing low against the US Dollar. There is a key declining channel in place with resistance [...]

This post was originally published on this site Bitcoin mining is a term that everyone in the cryptocurrency and even many outsiders are familiar with. This is a process performed by high-powered computers (also known [...]

This post was originally published on this site Key Points Bitcoin price surged and broke the $6,800 and $7,200 resistance levels against the US Dollar. There is a short-term ascending channel forming with support at [...]